From mint · Dhanya Nagasundaram · · 1m 10s
Novartis India Shares Jump 10%
Novartis India shares surge 10% as market recovers from 25-year Nifty 50 slump.
In brief
Novartis India shares surge 10% as market recovers from 25-year Nifty 50 slump. Novartis India shares rose 10% on 5 October after a 25-year Nifty 50 losing streak ended, with analysts predicting sustained growth through direct commercialization strategies. Originally reported by mint.
Share Price Surge
Novartis India shares surged nearly 10% on 5 October, reflecting a broader stock market recovery.
Market Context
The stock opened at an intraday low of ₹ 2,001 on the BSE and climbed to a high of ₹ 2,164.60 during the session.
Technical Analysis
Rajesh Bhosale, Technical Analyst at My Advisor Alpha, said the stock needs to sustain above ₹ 2,100 for positive momentum to resume.
Support Levels
The recent lows around ₹ 1,900 are likely to act as strong support for the stock.
Nuvama Strategy
Nuvama Institutional Equities said Novartis India is transitioning from a partner-led model to direct commercialisation.
Market Expansion
The company is deploying more than 900 medical representatives to cover around 1.5 lakh healthcare professionals.
Future Outlook
Nuvama expects FY27 to be a transition year with potential for the stock to extend its uptrend.
The main idea
Novartis India shares rose 10% on 5 October after a 25-year Nifty 50 losing streak ended, with analysts predicting sustained growth through direct commercialization strategies.
